Equifax Inc. announced it is developing and maintaining a data exchange that automatically alerts customers in the wireless industry to a potential fraud situation. The Equifax Wireless Fraud Data Exchange is designed to improve risk assessment for the wireless industry.
Exchange members continually contribute information on their suspect fraud cases to this database. When a consumer application is processed via Equifax’s proprietary MultiVision(sm) platform, the fraud data exchange automatically checks the database for a match. A flag is returned when a match is found.
Val Perry, senior vice president and general manager, Equifax Telecommunications & Utilities Solutions, said, “Wireless industry leaders told Equifax they needed a tool to indicate potentially fraudulent situations without overtaxing the user with additional keystrokes or an abundance of ‘false’ flags. Working together, we have come up with a solution Equifax’s Wireless Fraud Data Exchange.
“Our experience in developing and running the National Telecommunications Data Exchange (NTDE), the National Consumer Telecommunications Data Exchange Inc. (NCTDE, Inc.) and Exchange(sm) 2000 makes this a perfect fit,” Perry added.
Combating subscription fraud while at the same time keeping acquisition costs low requires a delicate balance. Equifax’s Fraud Data Exchange reduces exposure to write-offs and operational costs by indicating when an application may require further investigation.
The Equifax Wireless Fraud Data Exchange will be available to the wireless industry in the second quarter of 1998. For more information, please contact Natt Davis at 404-885-8074.
All of the Equifax Telecommunications & Utilities Solutions’ products can be accessed via MultiVision, including
*POSITIVE ID(sm) — Identification verification.
*D.L Advantage(sm) — Identification verification through driver’s license information.
*Safescan(R) — Fraud alert.
*Wireless Risk Assessment Model(sm) — Credit score designed specifically for the wireless industry.
*Exchange(sm) — Payment history with other telecommunications vendors and skip tracing information.
Equifax’s worldwide knowledge-based information, transaction processing, consulting and software businesses are designed to bring buyers and sellers together, thus changing the shape of global commerce. Equifax serves the banking, financial, retail, credit card, telecommunications/utilities, automotive, government and health care industries. It is a leading supplier of business information solutions in Canada, the UK and Latin America. Equifax operates in 17 countries with sales in more than 40 countries. Founded in 1899 in Atlanta, Equifax today has 10,000 employees around the world. Revenues for the 12 months ended December 31, 1997, were $1.4 billion. On the Internet, Equifax Telecommunications and Utilities Solutions is .Details